Many people try to become financially independent, trying to find a universal way to receive money. However, sadly, most of us lose the most important thing - time. And it is not surprising that in the life of everyone there comes a moment when he realizes that it is impossible to return yesterday, and tomorrow will inevitably draw near the logical end. And then it becomes obvious that you simply do not want to spend your precious time on making corny money.
Types of income
There are earnings of linear and passive types. The first type of income is financial profit, which can be obtained only with constant effort. An example of this is the salary of a seller or a car mechanic, a dentist or some other employee of physical or mental labor.
These specialists receive their income only in this case if they go to work and fulfill their duties there. The cessation of labor for such people means a complete lack of a source of financial resources. But there is another type of income - passive. Having it, you will receive money constantly for work done only once.
What are the sources of passive income? Examples can be given to them the most diverse. So, passive income is considered to be received from the surrender under a rental contract for housing or any real estate. You need to purchase a room once. Then rent it out. And that's it, now it will be the source of your passive income. To obtain financial resources, you only need to take the rent.
However, it should be borne in mind that sources of passive income cannot appear on their own. For their education will require some work. What can be done only once in order to have a residual (passive) income for the rest of your life?
The concept of source of financial security
A person receives passive income regardless of his daily work. For a more concrete understanding of this type of source, an analogy can be drawn with a well and a water supply system. Of course, for various household needs in the house should be water. Of course, you can take an empty bucket and go to the well. After performing simple physical exercises, water will be delivered to the house. But there is another way. It’s worth only once to spend some time on the water supply, so that later, as necessary, just turn the tap valve.
The same goes for money. You can get up in the morning every day and go to work, for which you receive financial rewards. This will have to be done constantly, since money has the peculiarity of quickly ending. However, there is another possibility. To realize it, it will take some time (a year or a month, or maybe several years) to create a passive source of income. After that, the rest of his life will be profitable.
Psychological factors
Creating sources of passive income is not easy. The fact is that no one is teaching this to anyone. People who were educated in Soviet times are extremely negative about those who have created or are creating for themselves sources of passive income. In Russia of those times, such funds were considered unearned and condemned by society.
However, time does not stand still. In the former USSR, a market economy is developing. It is this that allows each of us to create large or small sources of passive income.But for this it is necessary to have an investor way of thinking, as well as develop the psychology of insight and foresight. Only in this case is a laid-back and easy way to financial freedom possible. The right attitude that will be formed in your work and money will allow you to constantly multiply your money.
In order to become a wealthy person, without wasting time on daily work, it is necessary to study the sources of passive income, their types, features and differences.
Deposits
The availability of funds in bank accounts is the simplest and safest source of passive income. This process is simple.
It will take some amount of money, which should be put at a percentage.
This type of source of residual income is available to everyone who has an initial capital. It will only be necessary to find a reliable bank and choose the most profitable deposit. Thus, the initial investment will bring additional annual income to its owner. Interest in the form of money does not have to earn. They will come by themselves.
Such a source of income will allow you to safely plan large purchases and vacations, as well as build further financial plans. In addition, the amount deposited is completely safe. The disadvantage of this source is that the interest paid by the bank is usually low.
What to do in the absence of seed capital?
Of course, not everyone has a certain amount of free money that could be placed on bank accounts. However, there are sources of passive income without investment. They can be found on the Internet. One of them will be a thematic site organized by you, on which it will be profitable for advertisers to place their ads. They may relate to sales of goods and construction, rental apartments and much more.
Own sites - sources quite accessible to everyone passive income online. They will allow you to earn up to several hundred dollars a month. Of course, any source of funds requires some support. However, if you have your own website, this will not be difficult. You only need to replenish existing pages. To do this, you can hire one employee for a certain fee.
How is a source of passive income on the Internet created? To do this, it is recommended to participate in affiliate trading programs. What is their essence? People advertising a product using a referral link can receive a fixed profit from the seller from each attracted customer. This is very beneficial for the entrepreneur, because in any case he would have to pay for his advertising.
Network marketing
Participation in an MLM company can also serve as a source of residual income. Network marketing allows you to distribute goods even in the most remote corners of our planet, where there is no Internet and television. The development of this business is based on recommendations.
Of course, today there are many network companies that strive to extract as much profit as possible.
However, several years spent in MLM will allow you to have a constant turnover, which will become your source of residual income.
Work in a network company is quite simple, because throughout our life we always recommend something to someone. This is what should be turned into a source that will allow you to receive passive income. However, do not intrusively offer the goods of your company. This will only scare away customers. It’s better to treat this work as a hobby, and your sales will grow steadily.
Investments
How to create a source of passive income for someone who has a certain amount of free money? A very profitable way is to invest in a small company.For example, a certain group of people is going to start a small production, but they do not have initial capital for this. Then entrepreneurs apply with their business plan to the so-called club of investors. There will be considered all the pros and cons of the project. If the idea is appreciated, then investors will certainly be found. You can become one of them. Depending on the amount invested in the development of the enterprise, it will be possible to have a percentage of the profit.
Real estate income
Gain financial freedom as a result of a profitable investment, money is very simple. To do this, you will need to buy an apartment, building or part of it, and then rent the available premises. These sources of passive income bring a small but fairly stable income. There are no risks here. Money will go on a regular basis without any effort. Especially profitable is the acquisition of real estate outside the country.
Where to start creating such a source of income? Initially, you can try to rent your own garage, having worked out all the nuances of this process. If you like this business, then the next step will be the transition to larger investments - apartments, offices, etc.
Real estate as a source of passive income is a very simple and convenient way to create financial independence. Moreover, everyone can do this business. Doing business does not require a university diploma or special practice.
Royalties
Profits may come from intellectual property. This type of passive income, as a rule, is possessed by musicians and writers, artists and other creators of an author's product. Intellectual property is also owned by inventors. To confirm their rights, it is enough to patent their offspring, and if it is in demand, receive income from each unit of manufactured goods.
Securities
To obtain passive income, you can invest in stocks of various companies that are placed on stock markets. A big plus of such an investment is a decent income, which can range from ten to thirty percent per annum. However, this source of revenue also has its drawbacks - a competent construction of a financial strategy will be required. This, in turn, is impossible without certain knowledge in the economic sphere.
It is worth saying that passive income is the path to tremendous wealth. Having created a source of receiving money that will come to you regardless of the efforts made, you can live for your own pleasure.
